New DoubleLine ETFs Target Commodities, Fortune 500 Equities | ETF Trends

Today, DoubleLine brought to market two very different ETFs. One offers exposure to an equal-weighted index of Fortune 500 stocks while the other seeks to reflect the performance of the commodities-focused Barclays Backwardation Tilt Multi-Strategy Index.

“DoubleLine has a strong asset management presence primarily focused on mutual funds. It’s great to see them further penetrate the ETF market with exciting products,” said VettaFi head of research Todd Rosenbluth about the launches.

The DoubleLine Fortune 500 Equal Weight ETF (NYSE Arca: DFVE) tracks the Barclays Fortune 500 Equal Weighted Total Return Index. The Fortune 500 is not an actual index but a list maintained by Fortune Magazine of the top 500 public and private U.S. companies as determined by their revenues.

DFVE has an expense ratio of 0.20%.

Although the DoubleLine Commodity Strategy ETF (NYSE Arca: DCMT) is technically actively managed it uses derivatives — mainly futures contracts — to replicate the performance of its reference index. That benchmark takes into account the carry, seasonality, and momentum factors in its methodology, incorporating all three to determine which contract it selects for a particular commodity. Currently, the top commodities by weight are Brent crude oil at 13.6a%, WTI crude oil at 13.2%, and soybeans at 10.1%.

DCMT has an expense ratio of 0.65%.

DoubleLine entered the ETF market in the first quarter of 2022. It offers three other ETFs in its lineup, in addition to the two that launched today, with roughly $840 million in assets under management across those funds.

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